As Africa’s climate warms, rich countries commit more funds

As Africa’s climate warms, rich countries commit more funds

As Africa’s climate warms, rich countries commit more funds

MOMBASA, Kenya (AP) – Rich countries have said that by 2025 they will spend about $ 25 billion to increase Africa’s efforts to adapt to climate change as the continent continues to struggle with droughts, cyclones and extreme heat, according to the officials at a summit in Rotterdam on Monday in the Netherlands.

The amount promised by the Africa Adaptation Acceleration Program, a joint initiative between various nations and organizations, is considered the largest adaptation effort ever made globally. Half of the amount is committed by the African Development Bank with representatives from Denmark, the United Kingdom, France, the Netherlands, the International Monetary Fund and others who also offer their support for the initiative.

The continent only emits 3% to 4% of its emissions despite being home to nearly 17% of the world’s population, but experts say it is particularly vulnerable to climate change as it is less able to adapt. African nations hope to use the funds to improve their resilience to extreme weather events, such as droughts or floods, increase tree cover and protect biodiversity, as well as expand their renewable energy capacity.

The summit comes just weeks after the Organization for Economic Co-operation and Development found that rich countries had not kept their 2009 promise to spend $ 100 billion annually to help developing countries adapt to a warm climate. The organization said $ 83.3 billion was given to the poorest nations in 2020, the highest sum ever achieved, but still below the original amount.

If the funds promised at the Rotterdam Summit are delivered, the 10-year target will finally be achieved, but African nations warn that this will not be enough.

“Africa does not have the resources to tackle climate change,” Akinwumi Adesina, president of the African Development Bank, told the summit. “The continent receives only 3% of total climate funding.”

Africa will need between $ 1.3 and $ 1.6 trillion over this decade to implement its commitments to the Paris climate agreement, an annual cost of between $ 140 and $ 300 billion, Adesina said. She added that the costs of adapting to climate change are expected to increase by 2050 as the effects of global warming become more severe.

Ghanaian President Nana Akufo Addo said his country will push for funds allocated to adapt to a warmer climate to be doubled at the next UN summit in Egypt in November.

After decades in which developed countries have not kept their funding pledges, many African nations remain skeptical that the funds will ever reach the continent.

United Nations high-level champion on climate change for Egypt, Mahmoud Mohieldin, said the existing global climate finance structure is “insufficient and ineffective”, especially for Africa.

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